The five-year class A notes, rated A by Kroll Bond Rating Agency, yield 4.88%; that's more than the senior class on another recent deal backed by Embraer jets.
The deal from a subsidiary of Reinsurance Group of America is linked to 2.65 million life insurance policies originated between 2006 and 2010.
FNA 2014-1 Trust, First National's second ever tax lien transaction, will sell a single tranche of AAA rated class A bonds that mature on Dec. 10, 2022; the notes are backed by property tax liens secured by 7,651 individual properties.
The Chicago Board Options Exchange (CBOE) has launched a product designed to allow fixed-income investors to hedge against interest-rate volatility, similar to its equity volatility index that is now widely used by investors seeking to hedge or trade equity-market volatility.
Barclays analysts downsized their 2015 forecast for RMBS issuance by U.K. banks for 2015. The culprit? The Bank of England's extension of its below-market lending program.
A two-year extension to the deadline for banks to conform CLO holdings to the Volcker Rule doesn't apply to all, the Federal Reserve says.
Despite regulatory hurdles, participants see nothing in the way of issuance reaching $60 billion to $70 billion this year.
Finke says the industry needs to address the lack of understanding about its performance and role in the economy.
Two academics argue that aggreggating standardized assets is key to solar securitization, which can meaningfully reduce funding costs for developers.
Despite pressure from Capitol Hill, regulators are disinclined to allow banks to hold collateralized loan obligations backed by bonds.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Unlike their existing risk-sharing programs, which have drawn $12.5 billion of private capital into the mortgage market by referencing $454 billion of mortgages since their July 2013 inception, some of the latest deals transfer the first loss sustained when a homeowner stops making payments.Current Issue